2 Cheap Tech Stocks to Buy Right Now
The stock market is heating up this year after a chilly performance in 2022. The broad S&P 500 index is up by 5% year-to-date while the more tech-focused and volatile Nasdaq Composite has gained 12%.
Still, some tech stocks remain quite affordable. In particular, memory chip giant Micron Technology (NASDAQ: MU) is as chronically undervalued as ever and automated ad-buying service specialist PubMatic (NASDAQ: PUBM) is an underrated cash machine. Here's why you should take a closer look at these two companies the next time you're itching to buy a modestly priced tech stock with generous growth opportunities.
The memory chip industry is highly cyclical. A few years of high demand and limited supply will let Micron and a few significant rivals enjoy rising chip prices and skyrocketing revenues. Then, the sector participants invariably build up too much manufacturing capacity and/or end-user demand fades for chip-consuming products such as cars, smartphones, and personal computers. Chip prices fall, shipping volumes drop, and stock prices tumble.
Source Fool.com
